Blue Barn Wealth LLC Invests $211,000 in Watsco, Inc. (NYSE:WSO)

Blue Barn Wealth LLC bought a new stake in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, Holdings Channel reports. The firm bought 492 shares of the construction company’s stock, valued at approximately $211,000.

Other institutional investors also recently bought and sold shares of the company. Welch & Forbes LLC grew its holdings in shares of Watsco by 0.6% in the fourth quarter. Welch & Forbes LLC now owns 213,689 shares of the construction company’s stock valued at $91,559,000 after purchasing an additional 1,293 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Watsco by 11.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,557 shares of the construction company’s stock worth $3,238,000 after purchasing an additional 793 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in Watsco in the 4th quarter valued at about $245,000. Lincoln National Corp boosted its stake in shares of Watsco by 4.0% in the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock valued at $312,000 after buying an additional 28 shares during the period. Finally, Avidian Wealth Solutions LLC increased its stake in shares of Watsco by 8.7% during the fourth quarter. Avidian Wealth Solutions LLC now owns 1,707 shares of the construction company’s stock worth $731,000 after buying an additional 137 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WSO has been the topic of a number of analyst reports. Stephens restated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. Robert W. Baird upped their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $404.25.

Watsco Stock Performance

Shares of Watsco stock traded down $4.39 during trading on Tuesday, reaching $467.96. The company’s stock had a trading volume of 458,850 shares, compared to its average volume of 344,665. The firm has a market cap of $18.48 billion, a PE ratio of 36.35 and a beta of 0.86. The company has a 50-day moving average price of $421.34 and a two-hundred day moving average price of $403.06. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $480.18.

Watsco (NYSE:WSO) last announced its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. Watsco’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $2.83 earnings per share. On average, analysts forecast that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend was Friday, April 12th. Watsco’s dividend payout ratio (DPR) is 83.08%.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.